Mexichem acquires PVC producer Vestolit for €219 million

12:03 PM MDT | August 8, 2014 | Francinia Protti-Alvarez

Mexichem (Tlalnepantla, Mexico) has agreed to acquire Vestolit (Marl, Germany), Europe’s sixth-largest manufacturer of polyvinyl chloride (PVC), from private equity firm Strategic Value Partners (Greenwich, CT) for a total of €219 million ($294 million) in cash and assumed liabilities. The deal supports Mexichem’s strategy to expand worldwide in high-end specialty products, Mexichem says. The deal is subject to regulatory approvals and is expected to close in the fourth quarter. Mexichem plans to consolidate Vestolit under Mexichem's chlorvinyls...